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06 March 2021

Fortune 500 firm Geely to launch joint blockchain venture in China

Fortune 500 firm Geely to launch joint blockchain venture in China


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Swiss enterprise blockchain developer, the Concordium Foundation, has signed a joint venture agreement with the $200 billion Chinese conglomerate, Geely Holding Group — the largest shareholder in Volvo and a Fortune Global 500 company.

The joint venture will be 80% owned by Geely and 20% owned by Concordium, but operationally co-managed by both companies.

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